Tomorrow - Make or Break for Vlad

[Sergey]

The Bank of Lithuania are due to pass judgement tomorrow to decree if Vlad is entitled to bid for the remaining shares of Ukio. Since he did a DfE earlier this year, he's passed the 33% threshold (he now holds 43%) and had to apply to make a formal bid.

If he's required to make a bid to the other shareholders, this could easily stretch his financial collateral to breaking point.

Who'd want to be the sole owner of a loss-making bank

[IWasThere2016]

A mad man?

[SvenNeil]

I am not sure what is in it for him to do this. Is it to sow up a failing bank to hide its dire finances or another ego trip for the mad one?

[fatbloke]

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The Bank of Lithuania are due to pass judgement tomorrow to decree if Vlad is entitled to bid for the remaining shares of Ukio. Since he did a DfE earlier this year, he's passed the 33% threshold (he now holds 43%) and had to apply to make a formal bid.

If he's required to make a bid to the other shareholders, this could easily stretch his financial collateral to breaking point.

Who'd want to be the sole owner of a loss-making bank

As long as the flumps at Gorgski are paying interest to his bank they are never gonna be a loss making bank. I'm sure that if you looked at his supposed profit each year and the amount of interest the Gorgie ****s are paying the 2 figures would be remarkably similar. According to Ukio Bankas entry on Baltic Exchange Lithuanian Banking head honchos have approved something today - and the share price went up 2% - hopefully this will cost the submariner even more to buy the othetr shares. Tick Tock Tick Tock....

[greenginger]

I don't think it was ever in Vlad's plans to own the Bank outright. Follow the sequence of events.

1) End of last year Bank running short of cash because of bad debts and no takers for their Bond issue.
2) Vlad lends Bank £15 million to tide them over.
3) Lith. Financial Authorities insist the loan be capitalised or Bank fails compliance rules.
4) Vlad ends up with 60 million or so extra shares and that takes him above the 33% ownership level which triggers the requirement to offer to buy out all other shareholders at a price above the market value. Several million shares then bought on the market by speculators out to make a few Bucks off Vlad.

Just guessing now but all small share holders get their money back compliments of Vlad then when the Money Laundering allegations are proven the plug is pulled on Ukio Bankas leaving the Romanovs and associates as the financial casualities.

WE can but hope.

[hibs0666]

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As long as the flumps at Gorgski are paying interest to his bank they are never gonna be a loss making bank. I'm sure that if you looked at his supposed profit each year and the amount of interest the Gorgie ****s are paying the 2 figures would be remarkably similar. According to Ukio Bankas entry on Baltic Exchange Lithuanian Banking head honchos have approved something today - and the share price went up 2% - hopefully this will cost the submariner even more to buy the othetr shares. Tick Tock Tick Tock....

The yams no longer owe any money to Ukio Bankas.

[Hibby Kay-Yay]

I'm more in the mindset that what will be will be with Hearts. Bored waiting on the collapse. To be honest I'm surprised that Vlad has stayed there for this long and can't see anytime soon that position changing.

[greenginger]

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The yams no longer owe any money to Ukio Bankas.

True, but they owe a hell of a lot of cash to UBIG and they owe Ukio Bankas big time.
Latest interim accounts show UBIG now responsible for 25% of all Ukio Bankas lending which is the maximum permitted under Lith. banking rules, hence why an "associated company" had to take over £12 million of Hearts debt at the beginning of the year.

Long Live Vlad !!!

[banarc7062]

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I'm more in the mindset that what will be will be with Hearts. Bored waiting on the collapse. To be honest I'm surprised that Vlad has stayed there for this long and can't see anytime soon that position changing.

I think he will go once the new stadium is completed with its super stands and hotel complex as his lasting legacy
GGTTH

[Caversham Green]

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True, but they owe a hell of a lot of cash to UBIG and they owe Ukio Bankas big time.
Latest interim accounts show UBIG now responsible for 25% of all Ukio Bankas lending which is the maximum permitted under Lith. banking rules, hence why an "associated company" had to take over £12 million of Hearts debt at the beginning of the year.

Long Live Vlad !!!

I've been wondering about that associated company and why they set the debt up the way they did. Basically it looks like UBIG simply couldn't afford to take on the whole debt. Any idea of the make-up of the associated company?

[greenginger]

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I've been wondering about that associated company and why they set the debt up the way they did. Basically it looks like UBIG simply couldn't afford to take on the whole debt. Any idea of the make-up of the associated company?

I would guess it is UAB Businessline as it fits the profile of being associated with but not part of the UBIG Group. Its the company that bought ticket/admin. office from Mercer's estate and rents them to the Jambos for £41 K per year. ( Unpaid last year as per the Hearts accounts page26.)

UAB Businessline is a Lithuanian Tour Operators and mini bus hire group.

[Sergey]

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I would guess it is UAB Businessline as it fits the profile of being associated with but not part of the UBIG Group. Its the company that bought ticket/admin. office from Mercer's estate and rents them to the Jambos for £41 K per year. ( Unpaid last year as per the Hearts accounts page26.)

UAB Businessline is a Lithuanian Tour Operators and mini bus hire group.

Pretty much certain that it is UAB Businessline, as they've placed a Yam logo on their website.

UAB Businessline T/A Superturas

[PaulSmith]

On September 3, 2010, AB Ukio bankas received a report from shareholder
Vladimir Romanov about resolution, passed by Competition Council of the
Republic of Lithuania, to give permission for shareholder Vladimir Romanov to
pursue concentration acquiring up to 100 percent shares of AB Ukio bankas
according to submitted report.

[Houchy]

Anything

Or another "Nothing to see here"???

I'm assuming the latter... again

[Ed De Gramo]

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Anything

Or another "Nothing to see here"???

I'm assuming the latter... again

As usual with Sergey's threads about 'them'.....

[Sas_The_Hibby]

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Anything

Or another "Nothing to see here"???

I'm assuming the latter... again

What! Have you not heard that Hearts folded yesterday, they've been replaced in the SPL by Inverurie Locos and the bulldozers move in on Tynecastle on Monday?!?

Please keep up.... :

[down the slope]

Sergey is ok, he is winding them up big time, no problem with that is there unless your allegiance lies elsewhere ?.

[Houchy]

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Sergey is ok, he is winding them up big time, no problem with that is there [B]unless your allegiance lies elsewhere ?.

****, how did i get found out? Almost 4000 posts and I've finally been unveiled as a closet Yam. I bow to your superior knowledge and powers of detection and now must leave .net

If it wasn't for you meddling kids!!!

Cheers Inspector Gadget

Yes, I know Sergey is winding up the Yams but it just seems that every week, they have days to live as a club before Administration, folding, whatever yet after about 5 years of nothing, it's still going on.

If it's a wind up, at least lets have something substantiated that we can laugh about otherwise people are just going to get bored. And before you say "well stop reading them then", I just stumbled over that one by mistake.

[Sergey]

Yes, I know Sergey is winding up the Yams ....

Where about in my OP am I trying to rile the Yams?

I'm not. I'm merely stating financial facts that concern their owner/holding company/club (which isn't being reported elsewhere).

There is a difference.

[Ed De Gramo]

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Sergey is ok, he is winding them up big time, no problem with that is there unless your allegiance lies elsewhere ?.

LTYF

[Kaiser1962]

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Where about in my OP am I trying to rile the Yams?

I'm not. I'm merely stating financial facts that concern their owner/holding company/club (which isn't being reported elsewhere).

There is a difference.

I know. But they do love you. It's beyond physical.

[Houchy]

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Where about in my OP am I trying to rile the Yams?

I'm not. I'm merely stating financial facts that concern their owner/holding company/club (which isn't being reported elsewhere).

There is a difference.

I think you'll find that in post 17, DTS states "Sergey is ok, he's just winding them up big time", hence my reply.

By stating that "tomorrow is make or brake day for Vlad" implies, to me, that it's ground breaking news on what happens to the Yams ie sink or swim but, yet again, nothing seems to have come of this "make or break".

[Crazyhorse]

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I think you'll find that in post 17, DTS states "Sergey is ok, he's just winding them up big time", hence my reply.

By stating that "tomorrow is make or brake day for Vlad" implies, to me, that it's ground breaking news on what happens to the Yams ie sink or swim but, yet again, nothing seems to have come of this "make or break".

I probably agree with you on that. I've become a bit weary of the 'its the end of the Yams' stuff. Much as I would like to see them go the way of Gretna I don't see how they will really.

I know nothing about economics/accounts/high finance and I would like those who do on here (Sergey, Caversham etc) to explain if the Yams are in a unique situation in respect to football club debt. What I mean is all this crap about 'owing it to ourselves'. Clubs that go down the tubes as far as I can tell do so because they owe big debts to banks/other companies in their own country. With the Yams owing the vast majority of their debt to bank/companies outside the UK will they be able to go into administration and keep going. They will lose Tyncastle I presume to the Liths but they will be able to play somewhere else (Murrayfield/Livingston?). Which means they will end up back where Robinson was going to take them anyway except they have been marching around spending big from time to time and boasting about it.

And the bit that galls me they did grab a bit of glory with the Scottish Cup win against Gretna ironically. If they had completely wasted it all I would feel much happier. I suppose its a bit like the Portsmouth situation they also bolloxed their club for an FA cup and the chance to swagger around for a couple of seasons. Was it worth it? I don't know what their fans think. My head says obviously not its a mad approach. But I don't follow Hibs with my head and glory is what football is all about as the great Danny Blanchflower said. Maybe I'm in a minority but sometimes I'm tempted by the shot at glory approach although less so now we have the completed stadium. When I first started to go and watch Hibs ER was such a sh**hole I would have gladly swapped it for a Scottish Cup! Apologies that has all become a bit stream off consciousness....

[Wembley67]

Are they not bust yet

[Phil D. Rolls]

Are they still here?

[Houchy]

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Are they not bust yet

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Are they still here?

Carefull, you'll be accused of being Yams next.

[Keith_M]

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Are they not bust yet

LTYF!

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Are they still here?

Ditto!

[Phil D. Rolls]

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LTYF!



Ditto!

Proud and famous club, er, Battle of the Somme, eh, Heart and Soul of Edinburgh etc.

[HibbyAndy]

Am top Hobo

[fatbloke]

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Are they still here?

Bank share price up 2% today - i assume that will cost Vlad more to buy the existing shares Yes or No?